Notes- Chapter 31

Notes- Chapter 31 - Chapter 31-Agency Formation and Duties...

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Chapter 31-Agency Formation and Duties Agency- a relationship involving two parties; the agent and the principal. The agent represents or acts for the other party while the principal has the right to conduct matters entrusted to the agent Example of agency is a corporate officer who serves as the representative for the owners of the corporation Agency Relationships Fiduciary - Noun: refers to a person having a duty to act for another’s benefit - Adjective: “Fiduciary relationship” means that relationship involves trust and confidence Employer-Employee Relationships - Employees who deal with 3 rd parties are deemed to be agents of their employers Employer-Independent Contractor Relationships - Independent contractor- a person who contracts with another to do something for him or her but is not controlled by the other - Examples: building contractor and subcontractor Determining Employee Status (Whether a worker is an employee or an independent contractor) - Criteria o How much control does the employer exercise over the details of the work? If a lot of control is exercised, then employee status o Is the worker engaged in an occupation/business distinct from that of the employer?
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This note was uploaded on 11/18/2010 for the course MGMT 108 taught by Professor Guerin during the Spring '08 term at UCLA.

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Notes- Chapter 31 - Chapter 31-Agency Formation and Duties...

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